Allocating distributions from suspense (legacy method)

Mclowd provides users with two options in terms of suspense allocations:

• A legacy interface (available to all users)
• An upgraded tabular interface which supports faster transaction processing (access to which is restricted to Pro and Premium users only)

**NOTE:

• The suspense allocation function – in either mode – is not suitable for adding a new property or any additions to that property.
• That should be done only via the Add New Asset or Assets screens
• However the interface is suitable for allocating property-related rental income and deductions

The balance of this article deals with the legacy interface.

If you have successfully imported the bank data:

• Choose Suspense Allocation Legacy from the Transactions menu
• You will then see the Allocate Suspense Entries screen

From the Suspense Account Allocation screen you will see a list of transactions that are available for allocation.

The following example relates to dealing with Unit Trust/Managed Fund income.

In the relevant row:

• Click the Please select button against the trust distribution transaction
• You will see a drop-down list of Income, Expenses, and Other categories
• Select Trust Distribution

You will then be taken to the Add New Income screen.

• Click Please select against Select Account and then choose the Fund or the relevant member
• Click Please select and then choose the relevant asset from the drop down menu
• In this instance, we have selected VAS